In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.

At the end of the day, they're usually buying the products from the same outlets that you can!

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

Quote from @Conte Cuttino: Makes sense @Andrew Freed so say if we I can make it additional legal space, do you think the 107K left in the property for the return is worth it or should I sale and move on? 

Theyre great products for self employed borrowers who will not qualify for traditional loans, but there's a premium for that convenience.

What do you mean you are paying $400 additional dollars more than what you are paying now?

Additionally you can do a cost segregation study and get a lot of depreciation benefits to offset the rental income (and potentially other income).